Interviews
News Flash
PetroChina generates 1.888mn tons ethylene in 2005
17 Jan '06
4 min read
In 2005, the Company made investment in oil and gas exploration a priority and reached several strategic milestones. At the large oilfield newly discovered in the Jidong tidal and shallow water areas of the Bohai Bay, more exploration wells were drilled with high yielding oil and gas flows which added further to the Company's quality reserves.
At the deep layer of Daqing in the northern Songliao Basin, the Company also discovered sizable natural gas reserves. In addition, relatively large oil and gas reserves were discovered in the western Junggar Basin, Tarim Basin, Shaanxi province's Jiyuan, Gansu province's Qingyang and Sichuan province's Guangan.
The Company expects to sustain a replacement ratio for crude oil reserves of above 100 percent for the year and its natural gas reserves to continue expanding in a large scale.
In 2005, domestic demand for refined products was rising. Responding to the market situation, the Company ran its refineries at full capacity, optimizing resources and allocation as well as increasing operational efficiencies.
The marketing units for refined products also adapted to changes in the market conditions last year and improved service quality. The total number of service stations reached 18,164 by the end of 2005, which was 761 stations more than the previous year, and the averaged daily sales volume per service station increased substantially last year.
In 2005, the Company made further progress in its key pipeline projects. The Second Shaanxi-Beijing Pipeline, with a trunk length of 931 kilometers, began operation ahead of schedule; substantially lifting the Company's capacity of supplying natural gas to the Beijing and Tianjin region.
At the deep layer of Daqing in the northern Songliao Basin, the Company also discovered sizable natural gas reserves. In addition, relatively large oil and gas reserves were discovered in the western Junggar Basin, Tarim Basin, Shaanxi province's Jiyuan, Gansu province's Qingyang and Sichuan province's Guangan.
The Company expects to sustain a replacement ratio for crude oil reserves of above 100 percent for the year and its natural gas reserves to continue expanding in a large scale.
In 2005, domestic demand for refined products was rising. Responding to the market situation, the Company ran its refineries at full capacity, optimizing resources and allocation as well as increasing operational efficiencies.
The marketing units for refined products also adapted to changes in the market conditions last year and improved service quality. The total number of service stations reached 18,164 by the end of 2005, which was 761 stations more than the previous year, and the averaged daily sales volume per service station increased substantially last year.
In 2005, the Company made further progress in its key pipeline projects. The Second Shaanxi-Beijing Pipeline, with a trunk length of 931 kilometers, began operation ahead of schedule; substantially lifting the Company's capacity of supplying natural gas to the Beijing and Tianjin region.
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
